MILAN (Standard&Poor's) Sept. 13, 2002--Standard&Poor's Ratings Services said today that the ratings and outlook on France Telecom (FT; BBB-/Stable/A-3) remain unchanged following today's announcement of the company's first-half 2002 earnings and its decision to withdraw from the German market. Today's strongly worded reiteration by the French state (the 55% majority shareholder) that it will support FT to both strengthen its balance sheet and overcome any liquidity issue continues to be a key rating factor. In a previous press release, dated July 12, 2002, Standard&Poor's indicated that its ratings on FT took into account the clear statement by the French state that it would behave as an aware investor and would take appropriate steps if
